04 January-2023
Market failure occurs when there is a state of disequilibrium in the market due to market distortion. It takes place when the quantity of goods or services supplied is not equal to the quantity of goods or services demanded. Some of the distortions that may affect the free market may include monopoly power, price limits, minimum wage requirements, and government regulations.
https://corporatefinanceinstitute.com/resources/economics/market-failure/
